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AT&T agrees DirecTV takeover for USD 48.5 bln
2014-05-19 08:46:00| Telecompaper Headlines
(Telecompaper) AT&T has agreed to acquire the satellite pay-TV provider DirecTV for USD 48.5 billion. The acquisition strengthens its TV offering in the US, while also giving it a new growth market with DirecTV's over 18 million customers in Latin America. AT&T will pay USD 95 per share for DirecTV, including USD 28.50 per share in cash and USD 66.50 in AT&T stock. The deal values DirecTV's equity at USD 48.5 billion, while the total transaction is worth USD 67.1 billion including DirecTV's net debt. After the deal, DirecTV shareholders will own 14.5-15.8 percent of AT&T. AT&T intends to finance the cash portion of the transaction through a combination of cash on hand, sale of non-core assets, committed financing facilities and debt market transactions. To facilitate the regulatory approval process in Latin America, AT&T intends to sell its stake in America Movil, which competes against DirecTV on the pay-TV market in the region. AT&T's members on the America Movil board will step down immediately. AT&T expects the deal to add to its free cash flow per share and adjusted EPS within 12 months of closing. The companies also expect over USD 1.6 billion in cost synergies from the takeover within three years, driven in part by increased sales of TV services to AT&T's fixed and mobile customers.
Virgin Mobile raises USD 100 mln for LatAm expansion
2014-05-15 10:33:00| Telecompaper Headlines
(Telecompaper) Latin American MVNO Virgin Mobile Latin America has closed a new USD 86 million equity capital funding round supported by an expanded debt facility of USD 41.5 million to include the new Mexican operation. Virgin Mobile will use the proceeds of these financings to launch the Virgin Mobile brand in Mexico in 2014 and Brazil in 2015, and to fund further growth and expansion opportunities as they arise in the region, including the company's existing operations in Chile and Colombia.
Tags: mobile
usd
expansion
virgin
Syniverse to buy Aicent for USD 290 million
2014-05-13 15:24:00| Telecompaper Headlines
(Telecompaper) Network services provider Syniverse has agreed to acquire rival Aicent for USD 290 million. The acquisition is expected to expand Syniverse's global communications network, drive increased service to customers through real-time intelligence, and extend the company's global reach to mobile subscribers, enterprises and mobile operators in Asia. In particular, the increased direct connections will expand its footprint for the exchange of real-time information, to support its A2P, roaming and interconnection services. Aicent also provides cloud-based analytic tools that can improve end-to-end monitoring of customer experience and quality of service. The takeover remains subject to regulatory approval and other closing conditions.
Tags: buy
million
usd
syniverse
AT&T near USD 50 bln takeover of DirecTV - report
2014-05-13 09:18:00| Telecompaper Headlines
(Telecompaper) AT&T is in advanced talks to acquire DirecTV for about USD 50 billion, people familiar with the matter told Bloomberg. Under the plan being discussed, management of DirecTV, the largest US satellite-TV provider, will continue to run the company as a unit of AT&T. DirecTV CEO Mike White plans to retire after 2015, the report said. The deal is more than a week away from being completed, one source told Bloomberg. The two companies are still negotiating a price, which could come close to USD 95 a share, depending on how much cash or stock is in the transaction. Two other people said the price could go as high as USD 100 per DirecTV share. DirecTV had also drawn merger interest from rival Dish Network, Bloomberg reported earlier. However, Dish chairman Charline Ergen recently said he though the satellite-TV rival is too expensive to pursue.
Apple set to buy Beats for USD 3.2 billion - report
2014-05-09 08:46:00| Telecompaper Headlines
(Telecompaper) Apple is in advanced talks to acquire headphone maker and music streaming operator Beats Electronics for USD 3.2 billion, Apple's largest purchase to date, people familiar with the matter told the Financial Times. The deal could be announced as early as the week of 12 May, but some details have still not been agreed and the talks could still break down. Apple is expected to buy Beats' streaming service and its audio equipment business, with Beats' management team reporting to Apple CEO Tim Cook. Beats holds a leading position in the market for premium headphones, but its real value to Apple is its potential to revitalise Apple's coolness factor as iTunes' popularity has waned and the iPhone brand has been hit hard by Samsung marketing campaigns. Apple is paying a high premium, as Beats was valued at over USD 1 billion when it secured a USD 500 million investment from Carlyle last September. Neither Apple nor Beats would comment on the matter.
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